DES MOINES — The Iowa Utilities Board has approved a $1.9 billion project from the state’s largest utility to install hundreds of wind turbines by the end of 2015, Gov. Terry Branstad said Monday.

Branstad called the Des Moines-based MidAmerican Energy Co.’s plan a “win-win” for the state.

Construction is to begin in September on 448 turbines planned for Grundy, Madison, Marshall, O’Brien and Webster Counties, Branstad said. The company announced the expansion in May and named the sites Monday.

The turbines will have the capacity to generate as much as 1,050 megawatts of wind power, representing nearly 40 percent of energy used by customers.

Customers won’t see rate increases tied to the project because federal tax credits are expected to offset its cost over the next 30 years. Utility officials said customers could eventually see a slight decrease in their bills.

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